KSIDC gives Rs 1.75 crore dividend to state govt

Thiruvananthapuram: The Kerala State Industrial Development Corporation (KSIDC) handed over a cheque for Rs 1.75 crore to the state government as its profit share for the financial year 2017-18.
KSIDC managing director Sharmila Mary Joseph handed over the cheque to chief minister Pinarayi Vijayan in the presence of industries minister E P Jayarajan and chief secretary Tom Jose at a function held here on Wednesday.
One of the top-ranking PSUs making profits consistently for the last 25 years, the KSIDC, in the financial year 2017-18, made a profit of Rs 33.61 crore. During the year the KSIDC sanctioned projects involving a capital investment of Rs 155.31 crore as direct term loan assistance.
According to the KSIDC, these projects are expected to generate employment for 1200 persons directly or indirectly. The corporation also registered Rs 71.71 crore disbursement and recovery of Rs 81.41 crore for the period 2017-2018. The income for the year stood at Rs 52.14 crore.
KSIDC, besides being the single point contact for all investments into the state, has a range of diverse activities, including ‘Ease of Doing Business’, project appraisals, innovative funding and special financial assistance to women entrepreneurs.